Becoming a Landlord?

Becoming a landlord can be an incredibly rewarding experience. But many may be put off pursuing the career due to the legal and financial hurdles to get past at the start. But once you have your head around the challenges that will face you, you can make that step. Listed below are five essentials that every potential landlord will need to consider before making the next step:

1. Learn the Laws. There are a great many laws in place to protect both tenant and landlord, some of which may not be obvious so it is best to seek advice as to avoid any legal complications.
2. Documentation. Make sure your property has all the required legal documentation including an Energy Performance Certificate and Gas Safety Certificate.  
3. Working Hours. If you are working as your own landlord you must be prepared to work at all hours. Some days you may only be required to work one hour, the next it could be ten. If you are worried about the hours you may wish to seek the help of a property management agency (Like us!).
4. How will you fix it? The age old law of “if something can go wrong it will” invariably proves itself to be true. You will have to give consideration to what your course of action will be if (or when) something breaks.
5. Keep an inventory. Keeping a list of everything that is supplied before a tenant moves in is essential in monitoring the state of the property during the tenants occupancy.

If you require more information on the ins and outs of being a landlord please feel free to get in touch with us here: http://www.bristolpropertycentre.co.uk/contact_us.asp